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Pressure grows on RBS as victims of restructuring scandal cry foul at “conflicted” advisors

Rod Coffey

By Ian Fraser Published: Sunday Herald Date: 30 August 2015 A former Aberdeen oil firm owner who accuses RBS of “stitching up” his business has criticised the bank for appointing the accountancy firm that handled his firm’s administration to review alleged wrongdoing by RBS’s global restructuring group (GRG). Rod Coffey, former chief executive of Stable […]

August 30th, 2015 | Posted in Article Library | Read More »

Investor seeks to force accountability at Lloyds Banking Group


14th April 2015 Lloyds Banking Group shareholder Michael Page may be about to force some accountability, and perhaps even a degree of honesty, at the state-rescued bank in which he owns a stake. In doing so Page — whose Guernsey-based aircraft leasing business was left massively out of pocket following the collapse of the scandal-plagued, and HBOS-backed, aviation business, Corporate Jet Services, in […]

April 14th, 2015 | Posted in Blog | Read More »

Chuka Umunna: PWC’s useful idiot?

Chuka Umunna - banking toady?

January 23rd, 2014 I’ve long wondered how committed the Labour shadow business secretary and MP for Streatham Chuka Umunna really is to UK banking reform. It seems the answer is “not very”. In the furore that followed the publication of the Tomlinson Report on November 25 last year, a report which (accurately, in my view) […]

January 23rd, 2014 | Posted in Blog | Read More »

The Business Herald 2013 Review – Professional Services

Painting: Ed Kluz via AllThingsConsidered

By Ian Fraser Published: The Business Herald Date: 11 December 2013 Two of the biggest developments in Scottish professional services in the past year came when global firms set up large “back offices” in Glasgow, both with generous government grants. In April 2013, the accountants KPMG said it would establish “tax centre of excellence” on […]

December 11th, 2013 | Posted in Article Library | Read More »

The “financial terrorism” of Royal Bank of Scotland


November 27th, 2013 (updated November 28th, 2013) (minor edits December 1st, 2013) Another of the banking scandals I’ve been covering for more than three years is gaining a wider audience, following the publication of the Tomlinson Report on Monday and this morning’s confirmation from the Financial Times that the Serious Fraud Office is “considering” an investigation into the […]

November 27th, 2013 | Posted in Blog | Read More »

Prem Sikka: Without proper curbs on predatory capitalism, recovery will elude us


October 8th, 2012 Despite a banking and financial crisis of near biblical proportions in 2007-09, which saw the collapse and state-funded rescue of many of Britain’s banks, the country’s regulators have singularly failed to get to the bottom of what happened. The way in which the Financial Services Authority has sought to close the book […]

October 8th, 2012 | Posted in Blog | Read More »

Robert Jenkins: Puncturing bankers’ myths

Too Big To Fail - JP Morgan Chase's Jamie Dimon

September 26th, 2012 [Ian Fraser’s introduction] In this speech, Robert Jenkins blows apart the self-serving myths that bankers and their lobbyists have been peddling since the financial crisis ripped the financial system apart in 2007-. He also explains that ‘captured’ regulators and politicians have swallowed the myths whole. As a result, post-crisis regulatory reform is a mess […]

September 27th, 2012 | Posted in Blog | Read More »

It’s time the FSA learnt the lessons of Hillsborough. Eventually the truth will out

The Chairman of Britain's Financial Services Authority, Adair Turner, poses for photographers before delivering his report into the global banking crisis,  London

September 17th, 2012 (Updated 11.25am) (edited Dec 16th 2012) Studiously ignoring the roles of “establishment” figures like Sir James Crosby and Lord Stevenson in the demise of disastrous Edinburgh-based bank HBOS, the Financial Services Authority is seeking to heap all the ordure on the less establishment Peter Cummings. Now I am not suggesting that Cummings is […]

September 17th, 2012 | Posted in Blog | Read More »

Corruption allegations, major fraud inquiries, links to pornographic magazines … and a luxury yacht. Welcome to the world of banking 2012

HBOS headquarters on Edinburgh's Mound

By Ian Fraser Published: Sunday Herald Date: July 22nd, 2012 Editorial note: This is a more detailed and complete version of an article published in the Sunday Herald on July 22nd, 2012. Police are poised to press charges against several HBOS bankers and consultants after a two-year investigation into large-scale fraud, money laundering and corruption […]

July 22nd, 2012 | Posted in Article Library | Read More »

The Worst Bank in the World? HBOS’s Calamitous Seven Year Life

HBOS via The We

February 27th, 2010 (updated June 22nd, 2012) HBOS’s entrance on The Mound; Image: The We Lessons must be learnt from the short and calamitous history of HBOS, the bank which effectively went bust in September 2008, writes Ian Fraser (Note: This article was first posted under the headline “HBOS: When did the rot set in? […]

June 22nd, 2012 | Posted in Blog | Read More »

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